Nifty Auto pares early gains but stays in green; Tata Motors, Maruti lead the bull run

Amara Raja Batteries, Mahindra & Mahindra, and Bajaj Auto dragged the sector.

Oct 18, 2021 01:10 IST India Infoline News Service

Bull run Faster
The Nifty Auto index pared early gains but remained higher to go with the bull markets on Monday. Tata Motors was in the top gear again after correcting last week. Maruti also outperformed, while Exide India. Amara Raja Batteries, Mahindra & Mahindra, and Bajaj Auto dragged the sector.

The quarterly earnings remain the focus and investors are hopeful of improved sales during the festive season with fewer Covid-19 curbs.

Domestic equity markets started today's trading session at fresh all-time highs amid mixed global cues. S&P BSE Sensex breached the 61,800 mark while the NSE Nifty 50 was hovering around 18,500. Bombay Stock Exchange Website was working slow, impairing investor’s morning trade.

At around 1.05 pm, BSE Sensex was trading at 61,840.13 up 534.18 points or 0.87% and Nifty50 at 18,505.40 up 166.85 points or 0.91%.

Nifty Auto was trading at 11,852.90 up 52.60 points or 0.45% after touching a high of 11,964.55 and low of 11,803.25 during intraday trade.

Tata Motors surged over 3% at Rs512.80 per piece amid reports that the automobile company appears to be all set to take the nascent electric vehicle industry in India by storm with the launch of at least 10 new electric cars. The company stock hit day's high of Rs525 per piece near 52-week high of Rs530 per piece.

Maruti also continued the winning streak by gaining nearly 2% at Rs7,640.00 per piece. Exide India was also over 1% higher at Rs187.95 per piece. Balkrishna Industries and Tube Investments of India also advanced around 0.7%, Bharat Forge and TVS Motor also traded in the green. MRF, Hero MotoCorp and Ashok Leyland traded flat.

Amara Raja Batteries dragged 2.3% at Rs742.60 per piece. Mahindra & Mahindra also weighed down 1.6% at Rs916.40 per piece. Bajaj Auto was 1.3% lower at Rs3,913.65 per piece. Eicher Motors and Bosch also traded in the red. 

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